Small business lending is government’s top priority, says PM Shehbaz Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has said that improving the economy and providing jobs for young people through the growth of small and medium-sized businesses, housing and agriculture is the government’s top priority.

He was chairing a review meeting on Monday on facilitating lending to priority sectors. According to the state news agency APP, the prime minister said that banks performing well in lending to agriculture, housing and small and medium businesses under the government’s measures deserve praise.

He directed the State Bank and the Ministry of Finance to give no leniency to banks that are slow in lending to farmers, small and medium businesses and customers under the prime minister’s Apna Ghar scheme.

Shehbaz Sharif said banks play a key role in the growth of the private sector. He said that just as the government and its institutions cooperate with banks, banks should likewise cooperate in providing loans to priority sectors.

The prime minister said small and medium businesses have great potential to expand the economy, promote exports and create job opportunities.

According to the headline of the report, the federal government has set a target of Rs1,500 billion in loans for agriculture and small and medium businesses by 2027.